Benitec Biopharma Inc. (NASDAQ:BNTC) Short Interest Up 23.6% in March

Benitec Biopharma Inc. (NASDAQ:BNTC) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 216,100 shares, an increase of 23.6% from the February 28th total of 174,800 shares. Approximately 0.9% of the company’s stock are short sold. Based on an average daily trading volume, of 50,800 shares, the days-to-cover ratio is presently 4.3 days.

Insider Buying and Selling at Benitec Biopharma

In related news, Director Suvretta Capital Management, L purchased 900,000 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were acquired at an average price of $13.00 per share, for a total transaction of $11,700,000.00. Following the purchase, the director now owns 8,793,245 shares of the company’s stock, valued at $114,312,185. This trade represents a 11.40 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Benitec Biopharma

Several large investors have recently made changes to their positions in BNTC. Infinitum Asset Management LLC acquired a new stake in Benitec Biopharma during the fourth quarter valued at $2,652,000. Suvretta Capital Management LLC boosted its stake in shares of Benitec Biopharma by 1.5% during the 4th quarter. Suvretta Capital Management LLC now owns 8,960,009 shares of the biotechnology company’s stock worth $113,165,000 after acquiring an additional 130,956 shares in the last quarter. Lion Point Capital LP grew its position in shares of Benitec Biopharma by 59.0% during the 4th quarter. Lion Point Capital LP now owns 62,000 shares of the biotechnology company’s stock valued at $783,000 after acquiring an additional 23,000 shares during the period. Janus Henderson Group PLC increased its stake in shares of Benitec Biopharma by 198.5% in the 4th quarter. Janus Henderson Group PLC now owns 2,616,427 shares of the biotechnology company’s stock valued at $33,268,000 after purchasing an additional 1,739,904 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Benitec Biopharma by 138.4% in the 4th quarter. Ameriprise Financial Inc. now owns 35,476 shares of the biotechnology company’s stock worth $448,000 after purchasing an additional 20,597 shares during the period. 52.19% of the stock is currently owned by institutional investors and hedge funds.

Benitec Biopharma Stock Down 3.1 %

Shares of BNTC stock opened at $13.01 on Tuesday. Benitec Biopharma has a 52-week low of $4.75 and a 52-week high of $16.90. The stock has a market cap of $305.10 million, a PE ratio of -8.62 and a beta of 0.92. The business has a 50-day simple moving average of $12.31 and a 200-day simple moving average of $11.19.

Benitec Biopharma (NASDAQ:BNTC) last announced its quarterly earnings results on Friday, February 14th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.19. Sell-side analysts anticipate that Benitec Biopharma will post -1.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BNTC shares. Robert W. Baird began coverage on shares of Benitec Biopharma in a report on Friday, December 13th. They set an “outperform” rating and a $30.00 price objective on the stock. Guggenheim reiterated a “buy” rating and set a $17.00 price target on shares of Benitec Biopharma in a research note on Tuesday, December 3rd. Baird R W upgraded Benitec Biopharma to a “strong-buy” rating in a research note on Thursday, December 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $28.00 target price on shares of Benitec Biopharma in a research report on Monday, March 24th. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Benitec Biopharma has a consensus rating of “Buy” and a consensus target price of $24.43.

About Benitec Biopharma

Benitec Biopharma Inc, a clinical-stage biotechnology company, focuses on the development of novel genetic medicines. The company develops DNA-directed RNA interference-based therapeutics for chronic and life-threatening human conditions. It is developing BB-301, an adeno-associated virus based gene therapy agent for treating oculopharyngeal muscular dystrophy.